ICE Service Group Acquires SPS Assets

8/23/17

ICE Service Group, Inc., via its packaging group ICE Packaging Company, LLC, has announced the asset purchase of Strategic Packaging Systems, LLC (SPS). SPS, founded in 2009, is a Tennessee corporation; a full-service company that specializes in the design, manufacturing and distribution of soft sided packages and railcar liner systems for the Nuclear and Environmental markets operating under an ASME NQA-1 2015 Quality Assurance Program.

The transaction included an 80,000-square foot manufacturing facility in Madisonville, TN, adjoining property, all manufacturing equipment, patents and inventory. The transaction closed on August 22, 2017. www.spsonline.biz

Headquartered outside of Pittsburgh, PA, ICE was founded in 2007; a leader in the packaging, transportation and logistical management of radioactive and hazardous materials, difficult and sensitive materials, and heavy and over-dimensional equipment. ICE and their principals have successfully and safely managed the handling, packaging, and transportation of over 15 million tons of material for both commercial and government customers; including the nuclear industry, decommissioning and remediation industry, chemical and petrochemical industry, as well as the US Departments of Energy and Defense. www.iceservicegroup.com

Commenting on the sale, Gus Chirgott, Chief Financial Officer of ICE, said, "The acquisition of SPS is an excellent opportunity for SPS, ICE and our customers. The acquisition gives both firms additional resources and capabilities that naturally complement each company. We've been working with Al Beale the founder of SPS for over twenty years, dating back to his time when he owned Transport Plastics, Inc. (TPI); we're looking forward to working with him as we plan the next phase of growth for the company."